The GEO Group, Inc. Announces Offering of Common Stock

March 07, 2017 04:08 PM Eastern Standard Time

BOCA RATON, Fla.--(BUSINESS WIRE)--The GEO Group, Inc. (NYSE: GEO) (“GEO”) announced today that it
has commenced an underwritten public offering of 6,000,000 shares of its
common stock (the "Shares"). GEO intends to grant underwriters a 30-day
option to purchase up to 900,000 additional shares of common stock.

GEO intends to use the net proceeds to repay amounts outstanding under
GEO's revolver portion of its senior credit facility and for general
corporate purposes.

J.P. Morgan, SunTrust Robinson Humphrey, Barclays, and BofA Merrill
Lynch are acting as joint book-running managers for the offering. The
offering will be made only by means of a preliminary prospectus
supplement and the accompanying base prospectus, copies of which may be
obtained by contacting (i) J.P. Morgan Securities LLC, c/o Broadridge
Financial Solutions, 1155 Long Island Avenue, Edgewood, New York 11717,
or by calling toll-free at (866) 803-9204 or by email at prospectus-eq_fi@jpmchase.com;
(ii) SunTrust Robinson Humphrey, 3333 Peachtree Road NE, 9th
Floor, Atlanta, GA 30326, Attention: Prospectus Department, by calling
(404) 926-5744, by faxing (404) 926-5464 or by e-mail at strh.prospectus@suntrust.com;
or (iii) Barclays c/o Broadridge Financial Solutions, 1155 Long Island
Avenue, Edgewood, NY 11717, or by calling toll-free at (888) 603-5847 or
by e-mail at Barclaysprospectus@broadridge.com.
An electronic copy of the preliminary prospectus supplement and
accompanying base prospectus may also be obtained at no charge from the
Securities and Exchange Commission's website at http://www.sec.gov.

This press release shall not constitute an offer to sell or the
solicitation of an offer to buy, nor shall there be any sale of these
securities in any state or jurisdiction in which such offer,
solicitation or sale would be unlawful. The offering is being made
pursuant to GEO's existing shelf registration statement, as amended,
which became automatically effective upon filing with the Securities and
Exchange Commission.

About The GEO Group, Inc.

The GEO Group, Inc. (NYSE: GEO) is the first fully integrated equity
real estate investment trust specializing in the design, financing,
development, and operation of correctional, detention, and community
reentry facilities around the globe. GEO is the world's leading provider
of diversified correctional, detention, community reentry, and
electronic monitoring services to government agencies worldwide with
operations in the United States, Australia, South Africa, and the United
Kingdom. GEO's worldwide operations include the ownership and/or
management of 104 facilities totaling approximately 87,000 beds,
including projects under development, with a growing workforce of
approximately 20,500 professionals.

This press release includes forward-looking statements within the
meaning of Section 27(a) of the Securities Act of 1933, as amended, and
Section 21(e) of the Securities Exchange Act of 1934, as amended.
Forward-looking statements can be identified by words such as
“anticipates,” “believes,” “forecasts,” “plans,” “estimates,” “expects,”
“should,” “will” or other similar expressions. Such statements are based
on management’s current expectations, estimates and projections, which
are subject to a wide range of uncertainties and business risks. These
forward-looking statements include, but are not limited to, statements
regarding GEO's intention to issue the Shares and its intended use of
net proceeds of the offering. These forward-looking statements may be
affected by risks and uncertainties in GEO's business and market
conditions. This information is qualified in its entirety by cautionary
statements and risk factor disclosure contained in GEO's Securities and
Exchange Commission filings, including GEO's reports on Form 10-K and
Form 10-Q filed with the Commission. GEO wishes to caution readers that
certain important factors may have affected and could in the future
affect GEO's actual results and could cause GEO's actual results for
subsequent periods to differ materially from those expressed in any
forward-looking statement made by or on behalf of GEO, including the
risks that the offering of the Shares cannot be successfully completed.
GEO undertakes no obligation to update forward-looking statements to
reflect events or circumstances after the date hereof.